cory: you come to an apple event and not wear your apple watch? i do not even own an apple watch.here was not a lot of mention of the airpods. >> the air pods. they could have added enhancements. i was hoping they would add it where you can tap to go to the next song. maybe they will the future. caroline: it was a down day on the stock market. why not more enthusiasm? cory: it is hard to connect the dots. that is why the stock is down today. in terms of the development of apple's business, by announcing products with great fanfare that will not be on the market for a while, it will keep sales through the end of the year. it could be a combination of investors seeing good things and what they announced and concern about short-term results for those product lines that will take headwind knowing replacements are coming down the line. some of it not until december. caroline: great as ever. it has been a long day. thank you so much, cory johnson and mark gurman, live from the wwdc. stay tuned. it is our exclusive with apple c.e.o. tim cook. that extended interview later this hour. now

on apple tv starting soon. you will see some netflix users say i can get this for free, make that switch and discontinue the netflix subscription to the u.s. >> always a pleasure to get your inside, appreciate that. >>> all right, apple, okay, guy adami. is there strategy? i was thinking the war for stocks >> strategy is what things we have discussed many times to get away from hardware valuation and get into a service valuation, which will be great for the stock? we'll work on another one in health care, there are a lot of thingsb i want to do netflix, real quick, i understand the competition from amazon and apple that's been out there quite some time netflix has a significant head start and the bet, gene is saying customers will leave netflix. i'm not sure is that will happen. >> the thing about apple, you can debunk this like crazy, dan had disney being a buyer in all seriousness, is there any reason apple should be buying content or going out and buying a company like netflix which is speculated all over th

apple. to just under 15%. $1 million is currently the highest bid in warren buffett's annual charity. 4 days still remain, and the winner will get to have lunch with buffett in new york city. last year the charity auction drew a record $3.4 million bid on the last day. proceeds go to a nonprofit which helps the homeless in san francisco. and that is your "business flash" update. apple'seeping an ion worldwide developers conference. apple announcing new tools for developers to integrate machine learning across their apps. of everything seen so far, the augmented reality is the biggest apple is offering, but the presentation is still going on. for more highlights, and ounces, and market reaction, t live go. from new york, this is bloomberg. ♪ julia: this is "bloomberg markets." i am julia chatterley. scarlet: i am scarlet fu. now to one of the most widely read stories on bloomberg today, family,g the kushner the real estate committee, and its attempt to secure a loan to pay back chinese invest

so is apple, which says that a.r. is coming to ios devices with new tools for developers, apple is calling this the largest a.r. platform in the world. jon? >> looks like it is. thank you. joining us now, early siri, uber and roku investor, sean caroline and with us at post nine, foundation capital general partner, steve asalo. welcome to you both. ios 11 has a number of tweaks in it, little bit of a change to the overall look of it. they are clearly trying to balance productivity especially on the ipad with simplicity. think they're getting it right? >> it's i think a classic apple announcement of a lot of things people have been expecting for some time. we celebrate drag and drop but that's a functionality we have been taking advantage of in our other interfaces for a long time. i appreciate they are bringing those features and functionality but i do think users are craving more, looking for more from apple, from these conferences, and specifically around productivity features, ways of interacting and communicating

apple ceo tim cook started the conference by talking about apple tv. i heard you two talking about how amazon prime video coming to apple tv. obviously your living room is a big area of competition between all the big tech giants. if apple tv is going to be a success, tim cook knows he has to bring you some of the most sought after and attractive content that's out there. another operating system that received an update today was the watch, so a new workout app for the watch, a new music app for the watch. as always, apple doesn't break out units or revenue for the watch but idc actually just this morning pointing out that at least according to their estimates apple shipped about 3.6 million watches in q-1. up 60% year over year. that means they're tied for the fitbit. for the mac, new operating system there. apple unveiling a so-called high sierra operating system. they say with this system safari will be faster, mail is refined. it will support vr for the first time. it wasn't just software. they also introduced hardware updates as well and unveiled

emily: how would you characterize tim cook's apple apple?obs' tim: steve at's dna will always be the dna of apple, or it will ceo. long as i am i think it is deeply embedded in the company and we celebrate it. it should be like that and stay like that. as theyvolve over time would have if he were sitting here interviewing with you today. clearly unsure, but that is a better question to ask somebody who worked for both of us. emily: you said cars are an area ripe for disruption. how important is it that apple not miss out on cars? tim: i think there is a major disruption looming there, not only for self driving cars, but also the electrification. if you have driven and all electric car, it is a marvelous experience. it is a marvelous experience not to stop at the gas station, whatever you call it, and so -- plus, you have ridesharing on top of this. you have three vectors of the change happening generally in the same timeframe. as we look at it, what we are focusing on, what we have talked about publicly, is we are focusing on an autonomous s

emily: how would you characterize tim cook's apple over steve jobs' apple?l always bea the dna of apple. certainly as long as i am ceo, or anyone is, honestly. it is deeply embedded in the company. there is clearly some things, but that is a better question to ask somebody that worked for both of us. you said cars aren't area right for disruption. how important is it that apple not miss out on cars? tim: i think there is a major disruption looming there. cars,ly for self driving but the electrification. if you have german and all electric car, it is a marvelous experience. is a marvelous experience not to stop at the filling station or gas station. plus, you have ridesharing on top of this. three vectors of change happening generally in the same timeframe. as we look at this, what we're focusing on, what we talked about focusing on, is autonomous systems. purpose ofe autonomous systems is self driving cars. there are others. we see it as the mother of all ai projects. it is probably one of the most difficult ai projects. autonomy is something that is incredi

microsoft launching the brands new surface table this comes after apple released the apple pro at thevelopers conference last week. they match up. the i pad pro starts at $649 for the 10.5 display $799 for the 9-inch. the surface pro is 12.3 inch in display with an impressive battery life lance is putting them to the test it's time to reveal the rules. >> so here you have it this is the 10.5 inch. i will say i've drawn a lot more on an ipad, microsoft surface pro not surface pro 5. as you know, 4 wildly popular. everyone wondered, what will they do? they went on with straight surface pro. have you high resolution the full window's pc on the microsoft surface pro. this runs ios 10.3 on the ipad pro. it's getting a major software upgrade with ios 11. they're kind of going at this same market, light weight, long battery life, productivity and when this gets ios 11 the ipracticed pro it's going to get things like the file management, drag-and-drop, improved things where you can mark up pretty much anything with the apple pencil also of note is that these two devices do not come with the k

it's not apples to apples, thing are going quite well at apple, i just worry at 155,$000 a share there's a lot of juice within that stock. for all purposes despite what they talk about today the success of iphone 8 or what they call it is beginning to be parallel. >> tim, they always talk about investments in companies that have motes. does apple has the deepest moat mote of all? i asked our audience if you got a iphone for years with different apps and photos are you switching no matter how much the next iphone cost? do you have the big else mote out there? >> i think in current iphones they easily have the biggest mott. they been building the instructs arou -- shrubs around this big tree. what people fails to recognize is what beats the iphone is going to be some form of communication. all the focus on sum sung's next phone or japanese phone and china -- >> watch what the iphone does. >> or watch an ear piece your thermostat. the operating system underlining it all is hopefully what matters two or three years down the road, not the device that's delivering it to you. >> thank you for j

apple has never done it that way. do beta,apple doesn't basically.ok at the first iphone and today's, it would look crude by comparison. but apple doesn't function like a software company. the idea of software today is he released the minimum viable product and see how it works. apple doesn't do that, and that could be a hindrance to the software of the future. mentioned $11 billion last year spent on technology. to you for your great column. exclusives our interview with apple ceo tim cook at 5:00 eastern. lots to talk about. home pod, politics, tech trends, all of the above. joe: coming up, i talked to a multiple world series of poker champion about what he has learned about risk management and what lessons can be brought from the poker table to the trading floor. this is bloomberg. ♪ joe: the annual world series of poker is underway. i had a chance to talk to the winner of 14 world series of poker bracelets. , he talkedussion about his approach to risk management. >> a lot of the guys that have been around forever both in your somebody like a warr

he put off the largest acquisition in apple history.e is taken on issues like the environment and education. he maintains a dialogue with president trump despite their disagreement on climate change. now, as i've been sales plateau, questions remain -- i-phone sales fifo, questions remain. we sit down with tim cook and talk about apple's homepod, a direct challenge to amazon and google. apple ceo tim cook. emily: thank you so much for joining us. tim: great to see you again. johnathan: -- emily: why should people buy homepod? tim: we try to build something that is a breakthrough speaker first. music is deep and o -- in our dna. we wanted something that sounded unbelievable. it does a lot of other things but we wanted a really quality audio experience. emily: you're focused on how to reinvent music in the home, will idea what to make a phone call, college park or order groceries -- call a car or order groceries? tim: there are a lot of things that siri knows how to do with the phone. we start with a batch of those. emily: let's talk abou

apple is your favorite.y smiths that i use in this puff pastry tart are nice and tart and gives it kind of an acidic crunch. ♪ takes a little practice. gonna cut the apple directly in half, just on the side of the stem. you'll see how close i got to the seeds. seeds here, no seeds here. the way we want to cut this apple is to cut in very thin slices. of course, with the help of your parents, you, too, can do this. make slices about a quarter an inch thick. a little bruising is fine on your apple. it just means it's a little sweeter. you want to put all of your apple slices into a bowl with water and lemon juice. this will keep them from turning brown. once your apples are cut, you can start with the puff pastry dough. you can find this at your local grocery store, supermarket, wherever you go to find puff pastry dough. they come in big long rolls just like this one, but we're only gonna use about half. can use the other half for later. you want to cut the puff-pastry dough into rectangles. i use a pizza cutt

apple learned its lessons quickly, allowing others to create apps for the iphone, with apple taking a. soon the iphone was ubiquitous. >> it made me very dependent on. i could do everything, pay my bills, make reservations, learn stuff. it is awesome. >> to make our life more convenient. we spent more time on the phone on average but it helps you do everything see get a lot more done. correspondent: in 10 years, more than 8 million iphones have been told, turningg apple -- have ben sold, turning apple into the world'ss biggest traraded compa. >> the iphone is not going anywhere. it is a staple of how we all expect to be able to comommunice inin the future. correspondent: apple hopes it will remain so and it can provide its blockbuster product with compelling the features for many years to come. >> apple is celebrating the 10th birthday of its iphone. are you one of those who stood in line to get it-? >> i was pretty late in the game. i relied on my old service. i got my first iphone around 2011 or 2012. >> apple relies almost entirely on its signature product. have investors stopped h

emily: how would you characterize tim cook's apple versus steve jobs' apple?don't think about it very much. i guess i will point out that steve's dna will always be the dna of apple, or it will be as long as i am ceo. and i think as long as anyone is, honestly. i think it is deeply embedded in the company and we celebrate it. and it should be like that and should stay like that. obviously, things evolve over time as they would have if he were sitting here interviewing with you today. that is probably a better question to ask somebody who worked for both of us. emily: you said cars are an area ripe for disruption. how important is it that apple not miss out on cars? tim: i think there is a major disruption looming there, not only for self driving cars, but also the electrification. if you have driven an all- electric car, it is a marvelous experience. it is a marvelous experience not to stop at the gas station, or fillings nation or whatever you call it, and so -- plus, you -- gas station or filling station or whatever you want to call it. plus, you have ridesh

more apple than anything else. so as money's flown into indexes, it's flowing into apple. that's what pushed all of these big tech names up. when that slows down, and it will, you're going to lose the big tailwind that you've had behind these names. >> daniel, have you been adding to your tech positions with the downdraft that we've seen thursday, friday and today? or no? >> sue, we can't speak to what specific funds are doing. but what i would say is, if you look back over time, many of these technology companies shares have been volatile. at newburger berman the focus is on the fundamentals. for example, we're looking for significant earnings growth out of apple for the next one to two years. alphabet is another name we think has attractive earnings prospect. cisco, where the shares are inexpensi has been a contrarian name, a company we continue to like, driven by changes to its underlying mix. while the indices are at record highs, we are really looking for names that we think can outperform virtually regardless of the market environment. which, again, we expect is goin

the brazil model means far fewer jobs, and making an apple would be like picking apples.ld be an iphone assembled in america, do they really wanted to be? emily: don't be failed by a 10 reportedtim cook's pay, putting016 them in the bottom third of ceos. only ceo of a publicly traded u.s. company to cross the $100 million threshold for take-home pay. reed hastings of netflix reached $106 million last year. coming up, we take a look at a group of activist hackers on the front in protecting elections from tampering. ♪ to putxavier neil wants paris on par with silicon valley for tech investing in innovation. the opera -- the entrepreneur opened station f. including facebook, microsoft, and venture capital have appeared at the campus to advise entrepreneurs. >> we have programs that are completely different. we have a thing where we are looking for young people outside , and have them come in to create a company. emily: the french capital is trying to position itself as uncertainty looms around london post-brexit. voting machines to fake news, many companies -- countries like

emily: how would you characterize tim cook's apple versus steve jobs's apple?im: i guess i would point out that steve's dna will always be the dna of apple or certainly as long as i am ceo and i think as long as anyone is, honestly. i think it is deeply embedded in the company. obviously, things evolve over time in some other areas as they would have if you were sitting here interviewing with you today. clearly, i am sure, there are some things, but that is probably a better question to ask somebody that worked for both of us. emily: you said cars are an area ripe for destruction -- disruption. how important is it that apple not miss out on cars? tim: i think there is a major disruption looming. not only for self driving cars, but also the electrification piece. if you have driven an all aectric car, it is actually marvelous experience and it is a marvelous experience not to stop at the filling station or gas station or whatever you want to call it. plus, you have ridesharing on top of this, right? so you've got kind of three vectors of change happening general

this is apple's a new homepod.ling as a music device unlike amazon's device. they say it has spatial awareness so it can fill the room with sale —— sound. i can't touchit room with sale —— sound. i can't touch it or hear it so i can't you have good it is but it will come out later this year and will cost $349. first released in the us, the uk and australia. other countries coming in the new year. one of the potential downside is that you need an apple musics of scripture and in order to get the full integration so if you prefer get the full integration so if you p refer to get the full integration so if you prefer to use spotted by pandora, not the device review. apple are pretty confident this will give them a good part of the market in this home space. it speaks to where apple wa nts to home space. it speaks to where apple wants to position this device as a speaker first. it is about music. is that the fact they are focusing on it being a music device, is it a cover—up for theory not being a very good system comp

come our bloomberg tech reporter who covers apple. we will have more of our exclusive interview with apple ceo tim cook airing throughout. coming up, the role of tech in combating terror. a new pact between the u.k. in france. this is bloomberg. ♪ emily: french president emmanuel macron welcomed u.k. prime minister theresa may to the elysee palace for her first meeting with a foreign leader since the u.k. election. a main topic of discussion, combating terror. aree minister may: we launching a joint u.k.-french campaign to ensure that the web cannot be used as a safe space for criminals and cannot be used to host radicalizing materials that lead to so much harm. emily: tackling extremism has become a major priority for both governments. christians election campaign was interrupted by 2 deadly attacks -- britain's election campaign was interrupted died 2 deadly attacks in manchester and london. joining us this caroline hyde. what are they pushing for and how with a an act it? -- how would they enact it? caroline: it seems to be a new l

apple. mutual funds, large cap mutual fupds, the average benchmark is 3.6 f for apple. you would think 3.6 or well above that. >> now, you're going back to the old argument that icahn has made. a defactor short squeeze when you have these funds. >> correct. it's a 90 basis points differential. they're underinvesting. >> maybe this is a broader comment. maybe you have other analysts in other stocks come out and say, many of these large cap tech stocks this year are starting to look a little bit. >> i wouldn't go with many. the fangs with with two as. facebook, netflix, et cetera. i think within the faang, that alphabet and apple are should be taken out. they are not overpriced. we can make arguments about the other three. but those two are not overpriced and frankly, you just see no signs of cracking. whatever i say about amazon's share price, it goes up every day. >> my issue with this is is is what lurks in the background is there's complacency with apple. i don't know if you sell it, you have to get back in. i've never believed you have to own a e certain stock nor do

you think about apple and mobile developers in general, and they tend to go for apple cap form first.pple platform first. you will see more man-to-man is augmented reality space. more ofts -- you'll see this augmented reality and people knew it had potential, but it never quite latched on. now with apple pushing behind it, you will see the entire industry get lifted up and that in general will help not just apple but the other vendors as well. anchor: yeah, they mentioned about the furniture side of things. it acquired a company that had worked with ikea before. what could developers really do with that technology? could you elaborate a little bit more? bryan: sure. a good range from a number of areas is obviously apple's idea behind the developer conference, to get the creativity flowing. we have already seen things like pokemon go, to use an overused example. something as simple as a game. it could be ikea, putting your furniture in a place. also think about the enterprise or business-use cases, logistics, where you are in a warehouse and you can identify that those boxes have that,

. >> my pleasure >> when we come back, we're watching apple we'll talk about the price action there apple stepping up the legal battle with qualcomm we'll hear what paul jacobs has to say about that. the latest season of binge is out and ready to stream. here is six time emmy winner allen alda >> you played shelly >> yeah. >> uncle pete in horse are you as profane in real life as those two characters? [ beep ] yes. >> full episodes of binge streaming on cnbc.com/binge. dow is down five [vo] when it comes to investing, looking from a fresh perspective can make all the difference. it can provide what we call an unlock: a realization that often reveals a better path forward. at wells fargo, it's our expertise in finding this kind of insight that has lead us to become one of the largest investment and wealth management firms in the country. discover how we can help find your unlock. [ mhow was work?g ] well, actually... you're fired! [ screaming ] lucy and i were invited to not work at the a.v.l. anymore. no! minions! we're going back to villainy. [ cheering ] so, you're villains now? oh no!

>> i think apple had the big run.e had the downgrade from pacific crest which you know, crushed the chart if you're a chartist, but i think that apple is such a huge cap stuck, it galloped up there like a small cap. alphabet is doing well, fang is extraordinary. i was surprised there was no netflix note yesterday. of course there's one today talking about foreign international sign-ups but i think apple is stalled until the next thing and i think there are also people who say if it isn't a super cycle, what's going to happen, and was there something supposed to come out of this that was legendary. nothing was supposed to come out of this, nothing, other than just developers. everything that apple does is second guessed, and you second guess it after you buy it. i bought it, you know, i guess this is a bomb, i love it, but i guess it's no one's getting it. then you get 20 million people buying. their best days were so behind them. i'm sorry. >> what are you wearing on your wrist these days? >> an apple watch but the ol

the brazil model means far fewer jobs, and making an apple would be like picking apples.could when they boast an iphone assembled in america, the question is, does it really want to? don't be full by tim cook's reported 2016 pay, which ranked him in the bottom third of all ceos in the s&p 500. cook actually took home 100 $45 million, almost all from awards granted in he is not the only 2011. ceo of a publicly traded u.s. company to cross the $100 million threshold for take-home pay. reed hastings of netflix reached $106 million last year. coming up, we take a look at a group of activist hackers on the front in protecting elections from tampering. ♪ emily: xavier neil wants to put paris on par with silicon valley for tech investing and innovation. the entrepreneur opened station s, a co-working space next to the seine. companies including facebook, microsoft, and venture capital firms have appeared at the campus to advise entrepreneurs. >> we hope we will have the next facebook. we have programs that are completely different. peoplelooking for young outside of paris or a l

glassesk that apple ar are the apple product of the future. why? where, how, and >> we are filling in the blanks here. what we do know is they have launched ar kit. we know the next iphone is going to have a 3-d mapping chip that's going to be especially geared for a premium ar experience. we know apple has done acquisitions. so, when you think about those three together and also think about the most logical use case for ar is some form of a wearable, despite google's problems with glass, it seems logical. three years is a best guess. we feel confident apple will have this new product category, but the timing of it is a guess. emily: you've done some reporting on this. google glass, not a success. snapchat's spectacles, not a success. how will this be different? -- it isarables apple's next big product category. how will they differentiate? apple comes from a unique position where they bring the hardware expertise from making small devices like the apple watch and the iphone, but they also have the software. google did not have a operating to itsit

largely weighed down by apple. but for the moment, this sunt look so much like the start of a broad eer sell off as a healthy rotation. investors are moving over big tech names like microsoft and apple and google. there's some reason for that. bank stocks for example bounced the cap a tall plans of all 34 banks under review in the second round of the bank stress hasn't happen td since 2008. they're raising all of the dif depds. chevron traded higher because crude oil price started drifting back up and beyond that, the price of copper, a key industrial precious metal is within about 3% this week and bond yields are also up 5% to levels not seen since may. for "nightly business report," i'm bob pisani at the new york stock exchange. >> it looks like a slam dunk quarter for nike. the world's largest sportswear maker reported better than expected earnings. even in the face of increasing competition. the dow component earned 60 cents in the most recent quarter. ten cents above estimates. revenue up 5% from a year ago to

when will consumers see an apple ar?uest: that's one of those things i'm obviously not going to answer. technologye core of as a platform, the first thing and most important is to build the foundation. from that foundation you can do many things off of it, but first you have to have a really solid foundation. i think the developers are really going to love what they find in the developed bill -- the developer build on arkit. emily: we will have more of that exclusive interview later this hour. coming up we take a look at the global rise of crypto currency and the surprising bar it just past. this is bloomberg. emily: interest announced it has raised $150 million -- pinterest announced it has raised $150 .illion ascan delay a potential ipo its business model matures. the company makes money by selling ads that looks like posts on its site. they currently has 175 million monthly active users. crypto currency has just had a major threshold that may further solidify the ecosystem. caroline hyde is in london and spoke with so

apple will take on amazon and google. apple would bring advantages to that fight including a huge global installed base nearly 500 retail stores all around the world and of course one big marketing budget. guys, back to you. >> absolutely. josh, thank you for that. for more on this let's bring in executive editor karen swisher and an early apple employee. guys, good morning to you. we're going into this conference, coming out of the code conference last week. i wonder if you feel that apple was not the talk of code the way it has been in years past and whether or not this conference might change that? >> well, you know, they were not the talk. we did invite them. the problem they have is timing. a lot of their stuff is being kmunsed the week after code. we're hoping to get them back next year but it's always an issue because wwc is a week after code. it was interesting that not a lot of people did mention them on the stage. it wasn't part of the topic. more political. had some other stuff going on. i think it will be exci

your brain simulated a nonexistent apple so who can imagine and apple? and you can hear the crunch of the apple? and you can taste the apple? and to salivate in jeans the firing of the sensory neurons and so this kind of simulation and doing it very deliberately it was business as usual in my book "how emotions are made" i explained how that is no different from what you're doing right now you make the cure listening to me speak in reacting but in fact your brain is creating simulations that are predicting every single word that comes out of my -- mouth. [laughter] so your break right now is doing something remarkable neurons in some part of the brain for changing the firing and other parts to anticipate what is coming next. in this is how i like to think about it your brain works like a scientist always making a slew of predictions just like a scientist makes a hypothesis. and then you use and how each prediction was true and then compare them to incoming sensory input so if your brain predicts well said your simulating the apple of i pulled one out to

apple's potential miss on the upcoming data revolution.hy the latest iphone may not satisfy customers' needs for speed. after seeing massive gains this year, big tech stocks came crashing back down posting the biggest losses in months. shares of apple, microsoft, amazon, and facebook are some of the biggest decliners of the day. mike regan joins us from new york. what exactly happened? >> as you mentioned, tech has been on a tear this year. depending on how you look it, tech stocks on the s&p 500 or nasdaq 100 up more than 20% coming into today. and if you overlay on that this notion of how popular factor investing has become on wall street, investors look for stocks with certain attributes, whether it be high sales growth, good valuations, momentum, that sort of thing. tech this year has been ticking off a lot of factor boxes. many are still considered growth stocks. momentum, stocks that have a lot of momentum behind them. even low volatility. tech stocks have become not very volatile compared to how they were in the past. this morning,

out of the apple conference. we have a look at what's next. >> reporter: good morning to you. day two of apple's worldwide developers conference kicking off with a special guest today, michelle obama. it's a closed session moderated fireside chat and not open to the public. only for developers. and they do not plan on streaming the speech online. apple has long been outspoken on issues like privacy, lgbt rights and diversity in the workplace. attendees from 75 countries -- as diverse as ever. there are more men than women. >> so from a diversity standpoint. there's been clearly better traction. but again, unfortunately, it's still very male dominated when it comes to most of the development world. >> reporter: and many hope that changes as schools promote s.t.e.m. learning. the conference has brought out big announcements. the mobile operating system will be upgraded to ios 11. and you may have heard of the home pod. it's a home speaker with siri capabilities. that comes out in december. if you're wondering why t

is actually apple is a secret. it is a secret what apple does a secret it was started on the secret steve jobs with the secret was there is nothing that we know there was not any a manufacturing company nothing compares to this may give an example actually if you ever get the chance to visit a google factory in a factory but office i've been to the one here in new york and it's so nice and they meet in the they have this it's kind of a big food court budget hippy cool people in private in a couple of articles on google i know i mean it seems to be the best off if the work space that you could offer you work at well next to r t excuse me you've got a you've got an espresso. anyhow but aside from that apple is different apple you don't talk to anybody you're paid for your own lunch you don't talk about anything if you meet when you are there if you meet at a poker game whatever you never talk about the business your first day at apple you're met with the security officer and he talks to you and explains to you what w

we're going to talk trade and also airlines, apple, apple, apple, and mike santoli, are you there? >> yes i am. >> joe wants to know; we were in the make up room this morning, i'm just the messenger here. he said look mike had said there was going to be a bottom. he has done the math it's about 5%. he wants to know should we go all in or not? >> i would say not all in. it's funny the one column i ever wrote that joe remembers. >> i know. >> and i have been consistently bullish but maybe it's going to cool off here. he can stay because he went against me and he's playing with house money now. >> he's playing with house money. if you're not playing with house money what do you do? >> the market is okay here. we're well overdue for something noisier than a 2% pull back. >> i like when you get out there, mike. take a stand like that. it's a good thing. >> okay. >> thank you. >> joe is screaming from the make up room do the period opposite. that's so not fair. >> okay. >> thank you guys. >> can't wait to hear his views starting in nine minutes. thank you. up next we're setting you up fo

how optimistic are you about apple's iphone future? i think they keep having where itew innovations really matters to the user. new applications will make all the difference. the question is whether the applications will take advantage of it. i think downloading a movie slightly faster probably will not make a difference, so they will fundamentally need to be new user applications that take advantage of it. emily: we have been reporting on new phones. how is the market different that apple will be entering in september which is when we believe the iphone eight will be unveiled? >> it is a whole different ballgame. when iphone came out, it was a in a league of its own. samsung is as hot as ever. google will have their new one later in the year. there are a lot of new phones from chinese makers getting popular. there is more at stake here. will apple be affected by these players? it remains to be seen. the landscape has shifted considerably. peter thiel says he believes innovation in smartphones is over. would you agree? george: maybe fr

the apple watch has been picking up steam.ks like the price point is going to be similar to the apple watch. but it looks like a lot of the features will not be quite up to par. there is a lot of skepticism the can build the ties they need with the developer community and get the market share they need. emily: fitness trackers are sinking in popularity across the board. this is not unique to fitbit. >> definitely, fitness trackers are starting to see a lot of saturation in the market. that is why fitbit has been struggling so much. the smartwatch is supposed to be their big turnaround strategy. if you talk to developers and ask if you are excited about the prospect of a new platform to develop on, there's not a lot of enthusiasm. part of it is developing for smartwatches in general is a difficult thing to do. it is a smaller interface. there are more constraints developers have to deal with. given the option between developing for an enormous platform like apple or android, which one are you going to go with? developers are sa

not a lot of money to apple. they don't want their competitors to know that they now have your patents, that they now have your engineers, that they now have your expertise and said they don't announce it. they announced that they legally have to get the purchases over, like when they bought beef, then outside. a lot of little things. other guys are doing the same thing. i do lament. i think it's a little harder for a small company to get all the way to the online and become a really big company because it is very hard and in some cases it is legally impossible to refuse a very good offer. >> host: another column you wrote recently, let's treat the internet as a unique resource and a great common engineering feat. what does that mean? >> well, that was this week actually and it was me presenting a plan to save the internet to preserve the internet from things like unfair promotion of one person's content over another because they have the money or because they are owned by the companies that owns the pipes, the i

from apple.s look at the story how he started apple you look at these stories. i look at my story and other big successful stories i'm inspired by the story as well >> we should say, he has a deal with apple it's not like he just likes apple. >> there is no disputing that. >> he's, i think, got a radio show as well this isn't just dj khaled likes apple, he also has a business arrangement. >> he's getting paid, helps him buy the mansions >> yes >> speaking of apple, details on the original don't is mi ucongp next dow is down 23 >>> that is a clip from apple's new show hulu and am done making a new content push 70% of consumers want a la cart services joining us to talk about that, former nbc co-chair ben silverman. ben, welcome back. good to see you. >> good to see you. >> we had you on a few weeks ago whether this was kicking off do you have metrics yet on how to characterize what a success it is? >> well, i can feel it anecdotally, i'm getting a lot of great calls and feedback from many people i

apple joins the race in a time as cars. bloomberg. ♪ emily: instagram is trying to make it clear to users when posts are paid ads. they can tag a brand within their post. if the brand confirms the relationship it will be marked as an ad. the product is being tested with a handful of businesses and celebrities and will be rolled out more widely if it is successful. back to our coverage of e3. well movie and tv studios continue to be disrupted by digital entertainment, videogame companies have come through looking like winners. if you look in the bloomberg investors are bidding up on these stocks on prospects for rising profit. we caught up with the ceo and asked what is driving stocks? >> there are a couple of things driving the growth. the first is the promise of the business is beginning to be translated into the reality of how these companies are doing. the promise has been interactive entertainment is the most rapidly growing part of the entertainment's nest. with a cohort of consumers it is 37 years old on average, only

i think all options are on the table for apple.he option of competing directly with tesla is a daunting task that is they will have a difficult time doing that i think tim cook's side, they're trying to physical this out and could go either way. >> does this make sense to you is this the right kind of move, if you are an apple shareholder? what are you saying tonight? >> you're happy because of market there is 80 million vehicles sold globally every year if they can get to 101st of that, this can have 40, 50, a greater percent for the overall apple story t. problem is within you have a $250 billion revenue company, it's hard to grow in this case, it's a big enough market that will get turned up side down the next decade. i think it makes a ton of sense for apple to be a player in that sflchlt the implication that you are saying is to distract from the message from the release, does that mean you don't expect a lot? >> it's more of starting to lay the groundwork because when the next iphone comes out in the fall, he is going to want

coming up, apple is gearing up to take on amazon apple -- echo and google home. bring you all the details next. this is bloomberg. ♪ ♪ emily: the labs has ended an 11-month product drought. the latest gadget is a revamped high-end security gamma -- security camera. sincethe first camera 2015. this newest camera has some tech upgrades. it shoots higher resolution video that allows users to more deeply zoom into footage without losing as much clarity as the current version. the camera lens will automatically pan to follow a person in the view as they walk around the room. apple is said to be on the verge of introducing a siri-controlled smart speaker. this according to people familiar with the matter. the device would rival amazon echo and google home. it's just another drumbeat as apple prepares for its worldwide developers conference next week. joining me, alex webb. what do we know? alex: we know this is in production. a taiwanese company has started making these things. there's a good chance it will be unveiled next week, ready to be introduced to the market, t

the legal dispute between apple and qualcomm is ramping up, and apple fire the latest shot.n filing, apple claims there's mounting evidence that qualcomm's operating an illegal business model designed to extract high patent royalties on every wireless device sold. to be clear, apple is adding these allegations to a complaint already filed in january that it -- already accuses qualcomm of monopolizing the chip market. qualcomm fired back saying it is apple that it has been unfair. joining me now to discuss is our litigation analyst matt larson in san francisco. new allegations. how does what apple is saying change the case? reporter: apple is building up the rhetoric in this case. they are trying to set the stage for a much larger dispute, a much more expensive dispute, potentially for qualcomm. apple has long alleged qualcomm is double dipping by selling chips and charging royalty rates on the same technology on other people's chips. essentially what this case does is it builds out apple's lawsuit and tries to sneak markings in. again, this is setting the stage for a much lo

it also changed apples fortunes since the iphone's wants apple has grown to boast the largest market capitalization of any publicly traded company in the world. over three quarters of a trillion dollars by revenues it's the world's largest tech company ahead of rival samsung by a significant margin. in twenty sixteen apple brought in two hundred sixteen billion dollars in sales for forty five billion dollars in profit. much of that succecess is thanks to iphone sales would have represented as much as nearly seventy percent of apple's total yearly revenue at their peak in twenty fifteen. but the market is changing samsung now leads apple in smartphone market share and growth has slowed for both giants as low cost handset makers move in to fill demand in developing economies. google's android operating system has charged past apple's ios as the dominant mobile software with over eighty five percent of the market compared to apple's nearly fourteen percent. as apple looks ahead to the iphone eight this fall investors and analysts wonder if the company can continue to deliver. consumer c